Identity theft is a more common occurrence than you might imagine. In fact, the Federal Trade Commission has received 1.4 million identity theft cases so far in 2023. Unfortunately, many people don’t recognize the signs of identity theft or simply ignore them, which can have disastrous consequences.

To protect yourself from the potential risk of identity theft, learn about six red flags that can appear on your credit report. By promptly recognizing and resolving these issues, you can protect your identity and minimize the impact of identity theft. If you notice any of these signs, get in touch with the attorneys at Raburn Kaufman LLC as soon as possible.

1. Bank or Credit Card Transactions You Didn’t Make

One of the most obvious signs of identity theft is unauthorized charges on your bank or credit card statement. Criminals often test the waters by making small purchases, and this could be the first step in a much larger theft.

2. Bills or Statements You Didn’t Expect

Another red flag to watch out for is receiving unexpected bills or statements for accounts or services you didn’t sign up for. Additionally, not receiving expected statements can also be problematic. This could potentially indicate that someone has opened an account using your personal information.

3. Credit Reporting Inaccuracies

Inaccuracies on your credit report from Equifax, Experian, TransUnion, LexisNexis, and Innovis are important warning signs you should never ignore. These credit reporting errors could potentially indicate that someone has maliciously opened an unauthorized account in your name or is actively using your identity for fraudulent purchases. To protect against potential identity theft or financial harm, regularly check your credit report for inaccurate information.

4. A Sudden, Unexpected Drop in Your Credit Score

It’s natural for your credit score to fluctuate slightly every month. While a few points difference is nothing to worry about, a drastic drop could be due to fraudulent activity. This can be a sign that someone has taken out a line of credit in your name and missed payments, which can negatively affect your score. Regularly monitoring your credit score can help you detect identity theft early.

5. Being Contacted by Debt Collectors

If you fail to make a credit payment by its due date, a debt collector may contact you to collect the past due amount. In addition, if the bill is significantly overdue, a debt collector may call to discuss possible repayment plans or other options for resolving the debt. This can strongly indicate that someone has stolen your identity and is running up bills with your personal information.

6. Unusual Activity on Your Credit Report or Social Security Account

If you see any unfamiliar activity on your credit report or social security account, it could mean someone is using your identity. You might notice that a landlord or lender has requested a credit check on your account.

If You’ve Suffered From Identity Theft, Contact Raburn Kaufman LLC

Identity theft can happen to anyone, but knowing the signs can help you protect your personal information and prevent or minimize damages. If you have noticed inaccuracies on your credit report, reach out to Raburn Kaufman LLC for legal guidance. Our lawyers can assess the details of your situation and determine if you have a valid identity theft claim. Raburn Kaufman LLC pursues valid claims under the FCRA and litigates errors and inconsistencies on your credit report. To speak with one of our lawyers, contact our office at 877-994-3289 or message us to schedule a free consultation. Remember, early detection and fast response are key to protecting yourself against identity theft.